Carimin Petroleum formed a long white candle, indicating that the momentum of buying could be strong. Yesterday’s close has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR0.65 level, with an exit set below the MYR0.535 threshold. Towards the upside, the immediate resistance is at MYR0.80. This is followed by the MYR0.90 level.

Source: RHB Securities Research - 30 Jan 2019